815 53Rd StAnderson, IN 46013

Property Details for 815 53Rd St

Year built

1963

Construction

TYPE NOT SPECIFIED

Lot size

5.75 AC

Property size (Sq ft)

76,105 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

48-12-31-200-001.000-003

APU

481231200001000003

Description

This exceptional 80,510-square-foot warehouse, situated on a 5-acre lot at 815 E 53rd St, Anderson, IN 46013, presents a significant investment opportunity. Built in 1962 and extensively renovated in 2018, the Class B property boasts a single-story building with a 17.5-foot ceiling height and ample 300 parking spaces. The warehouse features 400 feet of frontage on 53rd Street, conveniently located near I-69 and between Ivy Tech campuses. Its strategic location also benefits from proximity to a race track and casino, and a high school, ensuring high daily vehicle traffic. The entire 80,510 square feet is currently vacant and available for lease or sale. The property's multiple tenancy allows for flexibility, and existing tenants in nearby outlots are thriving. Property taxes are $1.09 per square foot. This prime location, combined with the building's recent renovations and substantial size, makes Southdale Plaza an attractive option for various industrial or retail uses. The property is conveniently located in the Indianapolis submarket, offering easy access to major transportation routes and a robust local economy. The property is zoned for multiple uses.

• CAP approach

  CAP return

  Valuation

  6%

  $13,940,234

  6.5%

  $12,867,908

  7%

  $11,948,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,817,730

  Geo Method

  $23,817,730

• Alternative Use

  Use

  Valuation

  Residential

  $10,854,562

  Hospitality

  $9,942,721

  Educational

  $8,272,227

  Medical

  $8,556,721

  Retail

  $12,867,908

Location Insight

City

Anderson

County

Madison

State

Indiana

Latitude

40.0589

Longitude

-85.6678

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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